The mali mali business is increasingly becoming in demand in Kenya. The demand for household products is high thereby providing a large market for mali mali business. It is one of the businesses you can start with small startup capital in rural or fast-growing areas.
To make it in this business, ensure you have a one stop shop where you sell a wide variety of household items. I will take you through the process on how you can start a mali mali business in Kenya.
Write a Malimali Business Plan
One of the first things that you need to do before starting any business is to write a business plan. A business plan will help plan and manage your finances. Some of the things that you need to capture in your business plan include:
- Startup capital
- Source of startup capital
- Business location
- Household items to sell
- Market segmentation
- Business competition
Read also: How to write a business plan.
Find a Suitable Business Location
The other thing you need to do is to find a suitable business location. The mali mali business can do well in fast growing residential areas or rural areas. You need to identify what fast moving goods are in the specific area since the mali mali products are of a wide category.
What Can I Sell in Mali Mali Shop?
Malimali products are of a wide category and you need to decide which one you will be selling. Some of the mali mali items you can sell include:
- Shoes like rubber, leather and slippers.
- Plastic and metallic utensils like buckets, sufurias, thermos, cups, plates, and spoons.
- Clothes like handkerchief, panties, boxers and vests.
- Electronic items like earphones, pocket radio, batteries, chargeable lamp, memory cards and USB cables.
- Beauty products like lipstick, lip balm, perfumes, cream, necklace and earrings.
Read also: How to start a mitumba business in Kenya.
Find Mali Mali Business Suppliers
Once you have decided the items to sell in your business, the next thing is to decide where to source these items. It is good that you look for cheap, convenient and reliable suppliers.
If you are around Nairobi, you can find mali mali wholesalers in Kamukunji, River Road, Dubois Street and Nyayo Market.
Acquire Business Licenses
You need to get a business permit to start operating a mali mali business. You can get a mali mali business permit from the county council offices. It goes for only Ksh 4,000 every year.
Failure to secure a business permit will land you in trouble with the authorities and you risk losing your stock to the county council until you pay a fine. Therefore, make sure to secure business licenses and permits.
How Much Do I Need to Start a Malimali Shop?
The cost of starting a mali mali business in Kenya depends with business location and size. Typically, you can start a mali mali business with Ksh 20,000. You don’t need a permanent premise to start the business. You can build a temporary shed from where you can be selling your stuff.
Is Malimali Business Profitable in Kenya?
The mali mali business is a profitable venture that you can start with small startup capital. Its profitability margin is 20% while most of the products are fast moving. This means that you will be making Ksh 20 for every Ksh 100 sales you make.
Challenges Facing Mali Mali Business in Kenya
One of the major challenges that people in the mali mali business face is competition from established shops. It is because customers tend to trust established businesses like supermarkets compared to mali mali sellers.
Also, from time to time, mali mali traders face harassment from the county council. This happens especially for those who do not have business permits. To avoid losing your stock, it is best that you get business licenses.
Insecurity and fire outbreaks. Most mali mali traders lose their stock to fires and thieves. It is because most of them store their stock in temporary shades which are vulnerable to break ins.
Read also: How to start a welding business in Kenya.
The mali mali business is a good business with good prospects. You need to ensure that you target the right people and stock fast moving products. Also, be patient with customers to trust your business so that you can start getting many clients. Finally, seek to find solutions to challenges you will be facing in the day to day running of your business.